Here’s a trend that you may not realize is happening: More law firms, in some pockets of the country, are becoming owned by non-attorney interests or being funded via fees from those interests, including private equity. And with a bipartisan group of legislators introducing a bill last week in Colorado to bar that practice, we turn our attention on this week’s episode of “Colorado Chamber Office Hours” to why businesses will want to pay attention to that trend and to that legislation, House Bill 1421.
First, noted trial attorney Kyle Bachus discusses why the trend is worrisome, including the concern that these firms will push for larger settlements that don’t reflect the needs of clients. HB 1421 is a joint effort from the Colorado Chamber of Commerce and the Colorado Trial Lawyers Association, and he explains why two groups with often-opposing viewpoints about legal reform see eye to eye on this issue.
Then I talk for a few minutes about why this trend is one that’s caught the attention of the U.S. Chamber of Commerce and how increasing tort costs are making life more expensive for Colorado businesses and residents. The effort is, in some ways, a successor to a 2025 law that requires more transparency around foreign funding of lawsuits, which can cause similar concerns.
To hear the full episode, catch it here on all of your favorite podcast channels:
